Should Obama have signed America's 700 billion dollar stimulus package?
Yeeah, smart decision
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No, a big waste.
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Lots of people feel like the bailout was a bad idea. But that's just because they don't understand economics. Here's the basic rational for the bailouts: Sometimes, due to tribulations in the economy, people start to worry about losing their jobs. They start to save their money instead of spending it. Because people stop spending money, businesses sell less products. Because businesses sell less products, they make less money and end up having to lay people off. This causes even more people to cut down on spending, causing more businesses to have trouble, etc... a downward spiral is formed. How do we break this cycle? Well, if the people won't spend their money, the government does it instead. By injecting money, the government is able to keep the economy's gears turning. Once the economy gets moving again, people are willing to spend more, investors are more willing to invest in new companies, thus creating more jobs, and eventually we have a positive cycle instead of a negative one. This is the fundamental insight of Keynesian economics. This is not just some wacky theory, but one of the cornerstones of mainstream economics. Obama has stated that he wants to reduce the national debt. But before we can do that we need to turn the economy around. And that requires lots of financial stimulus. Side: Yeeah, smart decision
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No way. If it's a capitalist society then any company can fail, and if they suck, then they should fail. If companies can depend on government handouts to stay afloat then whats the point of innovating or sparking new ideas. If I can get a bail out for my horse and buggy then, I sure as hell won't spend the money on inventing an automobile. And even if I did build an automobile. If my car gets 2 miles to the gallon and nobody is buying it, who cares, I'll just get some bail out money and keep making them. This bailout is one of the biggest travesties played on the American Public. The rich got richer on the backs of the working class. The disconnect between the people and the kings is more obvious than ever. As a direct result of the so called stimulus, a large company was given money to purchase my company. They used their money to lay off 20,000 people. How the hell did that help anyone? It didn't, it only served that top 4% of the wealthy, and screw jobbed the rest. I managed to dodged the bullet, and got a kick ass 1.2% raise. Down from my general 6 to 8 %. I know I feel stimulated right in the bung hole. I hope anyone who voted for this gets gang raped in hell, they earned it. Side: No, a big waste.
Punctuation marks would make that a lot easier to read. Side: Yeeah, smart decision
What are you talking about? They started working on the bill the second he got in office. He signed it as soon as it passed. The only people who held it up were Republicans. Obama has not even been in office for 2 months, and he's already done more work than Bush did in his first year. Jeez, what do you want from the guy? Side: Yeeah, smart decision
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